Posted AT 4:03 PM EST on 07/05/08
Oil closes in on $124 a barrel
NEW YORK — Oil futures extended their seemingly relentless advance Wednesday, rising to a new record near $124 (U.S.) a barrel as investors looked past a U.S. government report showing increased supplies of crude and gasoline.
Light, sweet crude for June delivery hit a new record of $123.80 on the New York Mercantile Exchange before retreating slightly to settle up $1.69 at a record $123.53 a barrel.
The full text of this article has 677 words.
To continue reading this article, you will need to purchase this article.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
| Market | Change | Value |
|---|---|---|
| Data delayed 15 minutes | ||
| S&P/TSX | +109.94 | 11,689.27 |
| DJIA | +139.59 | 10,457.75 |
| S&P 500 | +16.69 | 1,108.07 |
| Nasdaq | +31.34 | 2,177.38 |
| Stock Profile | |
|---|---|
|
|
U.S. stock futures head higher
Investors await key U.S. data on manufacturing and housing
-
Video:
Japan takes it on the chin
|
MOST POPULAR 
Most Popular
| Rank | Headline |
|---|---|
| 1. | Canadian dollar on a roll 9:44 AM
|
| 2. | Magna poised to take wheel at Opel 1:38 PM
|
| 3. | Royal Bank loses $50-million 9:39 AM
|
| 4. | CanWest skips interest payment to conserve cash 1:43 PM
|
| 5. | U.S. economic slump eases 8:45 AM
|
| 6. | Gold jumps above $970/oz as dollar weakens 6:36 AM
|
| 7. | Macquarie snaps up Tristone for $130-million 28/05/09 6:36 PM
|
| 8. | Oil surges above $65 6:35 AM
|
| 9. | UK data signals worst of downturn may be over 6:41 AM
|
| 10. | Markets set to end May on a better note 10:16 AM
|
Eric RegulyBerlusconi:. On the cover ... and under them
GWYN MORGANA few questions to put your energy literacy to the test
KONRAD YAKABUSKIGOP's green maverick extends a hand to Canada